PR auto sales show 5.9% growth in August
Puerto Rico’s car dealers sold 7,209 new vehicles in August, representing a 5.9 percent year-over-year growth, the United Group of Automobile Importers said.
Accumulated demand shows an increase of 3.3 percent, when compared to the same period last year, the trade group known as GUIA said.
“This time, contrary to what happened in previous months, the increase in sales is due to an increase in retail sales of 8.1 percent; this, vis à vis fleet sales, which fell 37.5 percent,” said Ricardo M. García, GUIA president.
He attributed the growth to “considerable aggressiveness in the offers and discounts by car dealers, which in turn opened up more opportunities for the clients, especially given the uncertainty the possible furlough of public employees presents.”
“We had to be more aggressive, because we don’t know what can happen in the subsequent months. However, discount levels are not sustainable in the long run for most dealers,” García said.
“So, it’s crucial to expedite an economic development project and tax reform that will allow greater competitiveness and stability to promote investment and economic growth,” he said.
GUIA is an independent, nonprofit organization created in 2006 to manage issues directly related to the automobile industry, as well as Puerto Rico’s general economy. GUIA members represent 23 auto brands and more than 96 percent of total new vehicle sales in Puerto Rico.